Bank of America CEO: The Federal Reserve will keep interest rates unchanged for the next two years

According to a report by JinShi, the pricing of interest rate futures contracts now shows that the Federal Reserve will lower its policy rate by 25 basis points to the range of 4.00% -4.25% at its June meeting, and there is a more than 70% chance of another rate cut in September at the earliest. However, Bank of America CEO Brian Moynihan stated on Tuesday that the bank expects the Federal Reserve to keep interest rates unchanged for the next two years. He pointed out at a meeting in Washington that "it will take many years to squeeze out inflation, and the Fed's efforts to control inflation are likely to continue until 2026." Friday's Personal Consumption Price Index (PCE) report is expected to show the Fed's progress in combating inflation.